The Painted Pretzel Gets Funding On ABC’s Shark Tank
A lot of people have dreams, but many never actually act on them. The Shark Tank on ABC is one of the shows that gives those people with dreams that they've taken action on a chance. If people are having problems scaling their business or are interested in making it bigger than they can do themselves, they come to the Shark Tank.
Recently on Shark Tank Season 3 Episode 6 the story of a gourmet Pretzel entrepreneur is revealed and has a happy ending. The entrepreneur at the front and center of the business that founded a company around "painting pretzels" name is Raven Thomas who is from Scottsdale, Arizona. In one shot Ms. Thomas is shown unpacking boxes full of Painted Pretzel containers on a shelf that has a sign that says, "The Painted Pretzel made in Scottsdale, AZ."
The business making chocolate covered pretzels was started about three years ago in a kitchen. After orders got so fast paced and big, Raven Thomas had to move to a bigger kitchen and brought on family members to help her produce the chocolate & goodie covered pretzels. The business has seen a lot of success in the last year raking in $75,000 sales in the last year with a big order of $64,000 landing on the doorstep. In addition to that order there are $140,000 in orders that The Painted Pretzel can't seem to fulfill due to lack of capital.
It was revealed that The Painted Pretzel could be found in stores like Neiman-Marcus but there was one secret still being kept close to the chest of Raven Thomas. As Shark Tank member Kevin O'Leary says he's out of the deal because the pretzels are not unique, the secret finally comes out after comments from Mark Cuban. Mr. Cuban says that the pretzels are unique because Raven's "heart and soul" were put into them. Shortly after, Raven Thomas reveals her big secret. Ms. Thomas reveals that The Painted Pretzel just recently turned down an order from Sam's Club that was worth $2 million dollars because they didn't have the money or space for production.
Within a very short amount of time an offer is made by Mark Cuban to provide $100,000 of funding for 25% ownership of The Painted Pretzel. Mr. Cuban's salespitch starts with, "Okay Raven, I'm going to sell you." Mark says, "I own the Dallas Mavericks, right?" Raven says, "Yes" and Mark goes on to say "We could sell those in our arena. Did you know I own Landmark Theaters?" and Raven says, "Yes." Very quickly Mark says okay I'll give you the funding for 25% and we'll be selling these. Very quickly Raven Thomas agrees to work with Mr. Cuban and the deal is done. Just like that The Painted Pretzel has a bright future and who know, you just may see them at Sam's Club or a competitor like Costco this Christmas?